Senate begins ministerial screening of Taiwo Oyedele
The Senate on Wednesday began screening Taiwo Oyedele for the role of Minister of State for Finance. The session followed a motion by Senate Leader Opeyemi Bamidele requesting Oyedele’s admission into the chamber. Oyedele arrived around 2:21 pm, accompanied by government officials including Basheer Lado, Kayode Ajulo, and Tokunbo Kayode. The screening is part of […]
ICPC ranks NUPRC top in 2025 Integrity Assessment
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has ranked the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) as the top-performing federal agency in its 2025 Ethics and Integrity Compliance Assessment. The ranking is part of ICPC’s annual effort to measure how government institutions comply with transparency, accountability and ethical standards. According to the […]
Nigeria Pledges stable investment climate for oil sector
The Nigerian government has reaffirmed its commitment to providing a stable and conducive environment for investment in the country’s oil and gas sector. Officials emphasized that regulatory reforms and policy measures are being strengthened to attract both domestic and international investors. Speaking on the matter, authorities highlighted that Nigeria aims to ensure transparency, predictability, and […]
NUPRC announces date for fresh oil bloc licensing auction in Nigeria
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced the date for a fresh licensing auction of oil blocs in Nigeria. The auction aims to attract investors and boost exploration and production activities across the country’s petroleum sector. According to NUPRC, the new auction date has been set following adjustments to ensure transparency and fairness […]
NUPRC seeks finance, investment from Bank of America to increase oil production
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has appealed to the Bank of America to increase funding support for Nigeria’s oil and gas sector. According to the agency, more financial investment is needed to grow crude oil production in the country. This appeal was made by the Commission’s Chief Executive, Gbenga Komolafe, during a courtesy […]
Investors’ confidence back in Nigeria’s oil sector – Lokpobiri on NUPRC regulatory feat
Nigeria’s Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has stated that investor confidence has returned to the country’s oil and gas industry. This development, he noted, is largely due to the impressive regulatory achievements of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) over the past four years. Lokpobiri made the remark during […]
60 Million Barrels Of Crude Oil Unsold As Local Refineries Suffer Low Supply
Local refineries in Nigeria continue to face significant challenges in accessing crude oil. Reports indicate that over 60 million barrels of Nigerian crude oil remain unsold, floating at sea while local facilities suffer from insufficient supply. Insiders have voiced concerns about the ongoing difficulties, despite warnings from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). The […]
Nigeria’s oil production topped Africa’s chart in March – OPEC
Nigeria stayed on top as Africa’s biggest crude oil producer in March, even though its oil output slightly dropped. This was shared in the latest monthly report from the Organisation of the Petroleum Exporting Countries (OPEC), released on April 14. According to the report, Nigeria produced 1.40 million barrels of oil per day in March, […]
Oil & gas sector reforms will position Nigeria as preferred investment destination – Renewed Hope Ambassadors
Recent reforms in Nigeria’s oil and gas sector are already showing positive results, positioning the country as a top investment destination in Africa. According to the Renewed Hope Ambassadors (RHA), these changes are part of President Bola Ahmed Tinubu’s efforts to address key challenges, such as low investment, production, and outdated infrastructure. One major change […]
Nigeria’s crude oil production increases — OPEC
Nigeria’s crude oil production experienced an increase in November 2024. According to the latest data from the Organization of the Petroleum Exporting Countries (OPEC), the country’s average daily oil production rose by 152,000 barrels, reaching 1.486 million barrels per day (mbpd), up from 1.333 mbpd in October. This marked an 11 percent increase compared to […]